UBL Money Market Fund (UMMF)
This scheme is designed to grow your savings over time so you can meet your medium to long-term investment goals with ease.
About the scheme
Your money is a valuable asset and it should be put to work just as hard as you work to earn it. This way you can be confident about meeting your future financial obligations and goals with ease.
One of the ways of making your money work is to invest it in a savings scheme. But traditional savings schemes generally offer a relatively low rate of return especially when the amount you are investing is not very huge. Also such schemes require that you lock-in your money for a predefined period of time.
UBL Money Market Fund (UMMF) is a mutual fund investment scheme that offers an ideal investment opportunity to grow your savings. Compared to traditional savings schemes, you can enjoy an attractive market-based return on your investment – no huge lump-sum amount or lock-in conditions.
For your medium to long-term goals
You can use your UMMF account as a means of growing your savings over the medium to long-term. Whatever duration you are planning to invest your money for, with UMMF you can start earning a return from the very first day. You also don’t need to worry about locking-in your money for a fixed-term. In fact UMMF gives the convenience of accessing your money any time you want – without any charges.
For regular income
UMMF gives you the option to receive the earnings on your investment on a monthly, quarterly, semi-annual or annual basis. This amount will automatically be transferred to your bank account or will be sent to you in the form of a cheque or demand draft at the end of every month.
Avail tax savings & enhance the return on your investment
Unlike traditional savings schemes which offer no tax benefits, when you invest in UMMF you have the option to avail a tax savings facility (called a tax credit) if you decide to hold your investment for a period of at least two year. A tax credit is a kind of savings (or discount) that you can get on your income tax. The amount of tax credit that you will be eligible for depends on your income tax rate and the amount you invest in the scheme. Find out how much tax savings you can get.